The news is clear, home sales are on the rise in Virginia! There has been an 11.4% rise in home sells from last year with 7.1% of closings attributed to new homes verses resold homes. According to George Mason University Center for Regional Analysis, “Most significantly for the housing market, economic measures are better than they have been in five years”.
This is great news if you are looking for a new home in Richmond VA. The boost in home sales is a sign the housing market and economy here are heading toward sustained recovery and you can buy with confidence. As a matter of fact, in the Richmond area alone sales were up 22% in the second quarter as compared to the same period last year based on reports released by the Virginia and Richmond Association of Realtors. This number is led by strong sales in Henrico and Hanover counties.
It’s not just the number of homes sold; prices, days on the market and pending sales all point to a recovering market! If you are waiting for your home to sell before choosing a new home in Richmond VA, you’re in luck. The average time on the market of homes for sale in Virginia is just 93 days with some homes that have sold in a matter of weeks!
You’ve heard it before but it’s never rung more true in Richmond; affordable home prices, shrinking inventory and record low interest rates make now the time to buy! These combined factors have certainly attributed to the recent boost in home sales. With home prices no longer dropping and days on the market shortening, it’s time for home buyers to get off the fence and make their dream of owning a new home in Richmond VA a reality.
As a premier builder of new homes in Richmond VA, Main Street Homes features communities in Chesterfield, Henrico, Dinwiddie and other metro areas. With our home prices, desired locations, coveted amenities and a monthly investment less than or equal to renting why wait any longer? Call us today, 804-794-3138, and tour one of our 7 decorated model homes to see just what’s waiting for you!